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Moody's affirms TD Ameritrade's issuer rating with stable outlook

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Moody's affirms TD Ameritrade's issuer rating with stable outlook

Moody's affirmed TD Ameritrade Holding Corp.'s issuer rating at A2 with a stable outlook.

Moody's also withdrew the instrument-level outlooks on TD Ameritrade's senior unsecured debt ratings and issuer rating, citing its own business reasons.

The ratings affirmation reflects the company's "strong franchise in online brokerage, with clear leadership in the active trader segment and a growing institutional business serving registered investment advisers," the rating agency said.

Moody's noted that while TD Ameritrade's financial profile would usually warrant a higher rating, the recent commission price cuts along with lower interest rates and a flatter yield curve will likely impact the company's revenues.

TD Ameritrade recently announced that it will not charge trading commissions for online and mobile trading on U.S. stocks, exchange-traded funds and options. The company expects a revenue impact of approximately 15% to 16% of net revenues, according to Moody's.